Applies to:

Oracle Lease and Finance Management - Version 12.2.5 and laterInformation in this document applies to any platform.

Symptoms

When Depreciation methods are created which are in percentages (say 30%). This is then associated to the Asset category for each tax book. When a Contract is being booked, and we associate the above Tax book, the depreciation rate is defaulting as 3000%. Due to this, when you try to book the contract, get the following error:

ERROR-----------------------Depreciation Method and Rate are not setup

STEPS-----------------------The issue can be reproduced at will with the following steps:1. Use the Fixed Assets Manager Responsibility2. Create a new Depreciation Method 'xxxxx' (Method Type = Flat, Calculation basis = NBV, Depreciable Basis Rule = YEAR END BALANCE WITH HALF YEAR RULE)3. For the above Depreciation method, enter the Depreciation rates as: basic = 30 and Adjusting = 04. In Fixed Assets Manager, navigate to the 'Asset Categories'5. Query the required Asset Category (Say: COMPUTER EQUIPMENT.PC)6. For the above Asset category, in the 'Book' section, query the required Tax Book 7. Click on 'Default Rules' for the above - and associate the new Depreciation method created in step 2 8. Save the above configuration9. Change responsibility to 'Lease Super User'10. Create a new Contract 11. In the Configuration tab, create a new asset - and associate the above Asset category - say: COMPUTER EQUIPMENT.PC12. In the Asset Tax Depreciation section of the page, click on 'Add Another Row'13. From the LOV, select the required tax book 14. The Method defaults 15. Click on 'Apply' at the top of the page ('Update Asset' page)16. Once this is done, when you scroll down the page, in the 'Asset Tax Depreciation' section, the rate now shows 3000%. This is wrong - it should only be 30%17. Validate & Price the contract. It completes successfully18. Click on 'Submit' - and then we get the error page that shows 'Depreciation Method and Rate have not been setup.